Question (newer agent here)

[Valetic]

I have David's book. He's the guy you should work with for FE, imo. He's genuine, honest and doesn't come off as a dick.

That would actually be really cool. He's probably the only agent in FE that I admire and look up too. Would make my day to be able to chat with him and tell him what's going on. Idk this whole thread is making me feel wishy washy now. Think I just came here to hear people tell me yes, and I believe I can make it work regardless of what people say. But now it just sounds like I'm getting cut a bad deal. Still think the training is really good though considering the other companies that recruited me..

Yes, but if you quit, or are terminated, LH demands the repayment immediately. Doesn't matter if you've got 100% persistency. They consider the advances a loan. If you're not with them anymore, they call the loan. It's in your contract. Probably a separate page with "Advance Commissions" in the title.

So I'm not really captive, but they terminate my contract if I don't sell a policy every three months. So maybe I can just work it out if I want to leave just stop selling but one of their policies every 3 months til the main chunk of my advances are no longer loans?

 

[Travis Price]

That would actually be really cool. He's probably the only agent in FE that I admire and look up too. Would make my day to be able to chat with him and tell him what's going on. Idk this whole thread is making me feel wishy washy now. Think I just came here to hear people tell me yes, and I believe I can make it work regardless of what people say. But now it just sounds like I'm getting cut a bad deal. Still think the training is really good though considering the other companies that recruited me..



So I'm not really captive, but they terminate my contract if I don't sell a policy every three months. So maybe I can just work it out if I want to leave just stop selling but one of their policies every 3 months til the main chunk of my advances are no longer loans?

Go to DavidDuford.com

Check out all his info and shoot him a message.

 

[jerryrut]

That would actually be really cool. He's probably the only agent in FE that I admire and look up too. Would make my day to be able to chat with him and tell him what's going on. Idk this whole thread is making me feel wishy washy now. Think I just came here to hear people tell me yes, and I believe I can make it work regardless of what people say. But now it just sounds like I'm getting cut a bad deal. Still think the training is really good though considering the other companies that recruited me..



So I'm not really captive, but they terminate my contract if I don't sell a policy every three months. So maybe I can just work it out if I want to leave just stop selling but one of their policies every 3 months til the main chunk of my advances are no longer loans?

Why fight a battle that's more than likely to happen in the not so distant future when you can avoid it now? You have much better options, IMO.

 

[LostDollar]

I agree. It's hard to go As-earned when you start under full advanced, but it is the best option imo. You're much more stable financially, and hard to get vectored when you don't owe anyone loans.

You're getting into what I meant when I said the discussions got interesting. After you get beyond "startup" and into the experienced agents like yourself, there is an interesting split on taking advances or going as earned.

Some go with as earned, for reasons along the lines which you expressed. But there are others who consider not taking advances giving the carriers an interest free loan and the business model/practice which those agents want to follow is to get "their" money as soon as they legally can. I don't know enough to "argue" either side of that with those folks-it's their business and I have to assume they know what they are doing and understand their own individual financial situations.

Op's situation is different and it just seemed to me like he might be starting out with some business judgements that were not going to serve him well in the long term.

And I am not sure, but it seems to me like I am remembering 5-6 years as a time frame for a new agent to manage their cash and get from advances to as earned. And I am suspecting even the most disciplined ones would have a hard time doing it in less than 3, but again I don't know. Why I suggested op should inquire to help him develop realistic expectations.

 

[Northeast Agent]

 

[Newby]

Obviously they do final expense, but to my understanding the agent success comes from "selling" the FCGS program.

I think everyone can agree the actual LH policy isn't the best product on the market. But they for sure deliver to their clients. Even the funeral homes start licking their chops when they get their hands on an LH policy because they know they are going to get paid right away.

I haven't seen anyone able to bash the company itself other than the actual commission rates and the product prices.. But I guess there's always a better something out there.

As a funeral director I can tell you, you have definitely drank some TALL glass of Kool-Aid if you believe that. Here is what funeral homes think when we see LH policies:
1. If the death is within the 1st 24 months it is NOT going to pay out. We just have to assume that Lincoln will find a reason to recind the policy and deny the claim. It's common.

2. If the death is non-contestible it will pay in the same time frame that I get my money from any policy. 24 hours. BUT with Lincoln I know that the family will have around 30% less death benefit to work with than if they had bought Oxford, KSKJ, Trinity, Family Benefit, Standard Life or many other companies.

 

[LostDollar]

northeast agent, thanks for the proverb. I like that one.

Newby, thank you for the education/background.

 

[Newby]

You saying it doesn't make it true ? You are not stating facts and I guarantee your failure rate is the same as everyone else's. You are giving blanket statements to a guy asking if he can make it. He can. Fuk anyone that says he can't. All you recruiters literally sweat trying to get a well trained Lincoln heritage producer.


This isn't rocket science ? Of course not. Rocket scientists can't sell FE. Come up with some of your own phrases kid.

Medicare millionair lol you the Indian guy selling a bitcoin Ponzi scheme I know ?!

Not me. You have to scrub the stink off of them. Then you have to untrain all their "great training" and teach them from scratch. Usually they are too far in debt and have too many bad habits to fix.

There are always exceptions. JD was originally a Lincoln Kool Aid guy.

 

[Valetic]

Darn, you mean that funeral director they brought in was full of it? Lol

 

[Valetic]

Are you gonna tell me the FCGS doesn't save clients hundreds or thousands too?